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One of the nation's premier authorities on intellectual property strategy, Marshall Phelps discusses his views on the value of IP in technological progress, economic development and individual and small business entrepreneurship.

His remarks reviews the historical development of patent policy in the United States, discusses the current era of open innovation and the benefits of collaboration, and compares IP strategies that other countries like China and Korea have successfully employed to aid in their economic development.

Marshall touches on the paradigm shift that occurred at Microsoft toward institutionalized IP collaboration and cooperation under his leadership, and introduces the new book he co-authored, Burning the Ships: Intellectual Property and the Transformation of Microsoft, which provides a detailed and candid account of what one analyst has called "the biggest change Microsoft has undergone since it became a multinational company."